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The US stock market is in its worst decline since 2008

The US stock market is in its worst decline since 2008

[/rtl][rtl]Editorial Date: 2018/2/6 8:25 • 324 times read[/rtl]

[rtl]The Dow Jones industrial average <.DJI> was down 1175 points, its worst drop since 2008. The benchmark index closed down 4.6 percent at 24,345.75 points.The White House sought to reassure markets, saying it focused on "long-term economic fundamentals, which are still exceptionally strong." The decline is well above the historical decline of the index during the global financial crisis in 2008, down 777.68 points. The fall came after the US Congress rejected a $ 700 billion bank rescue plan after the collapse of Lehman Brothers. The latest decline is the worst in terms of the percentage since August 2011 when markets fell on the "black Monday" when Standard & Poor's downgraded the United States. With the decline of the Dow Jones, the broader S & P 500 index fell 4.1 percent, and Nasdaq's technology companies lost 3.7 percent. Stock markets in London and Asia also fell on the back of lower US indices.Investors moved after a change in expectations about the US and global economy, and what this might mean for the cost of borrowing. Stock sales rallied on Friday after the US Department of Labor released employment data, which showed higher-than-expected wage growth. The rise in the salaries of employees is an indication that they will spend more and thus increase inflation in the country. To control the situation, the US Federal Reserve will need to raise interest rates, prompting investors who were expecting the bank to raise interest only two or three times a year. Now they expect to raise interest rates further.The drop came as companies moved to sell stocks to inject more funds into assets, such as bonds that benefit from higher interest rates, says Irene Gibbs of S & P Global Market Intelligence. "This is not a breakdown of the economy, there is no fear of a market performance faltering," she said, "This is a fear that the economy is actually performing stronger than expected and that there is a need for reassessment." The strong growth of the global economy has pushed central banks in Europe, Canada and other regions to soften policies designed to stimulate the economy in the wake of the global financial crisis. The decline in stock indexes coincides with the performance of Jerome Powell as the new chairman of the Federal Reserve, stressing the challenge he faces to make decisions supporting the growth of the economy. is over